Medtronic: Fiscal 3Q Earnings Snapshot
DUBLIN (AP) — Medtronic PLC (MDT) on Tuesday reported fiscal third-quarter net income of $1.27 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dublin-based company said it had net income of 94 cents. Earnings, adjusted for one-time gains and costs, were $1.29 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The medical device company posted revenue of $7.55 billion in the period, which met Street forecasts.
Medtronic expects full-year earnings in the range of $5.14 to $5.16 per share.
Medtronic shares have climbed slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has risen 11 percent in the last 12 months.